Repurchase- Debt Securities

Banca Monte Dei Paschi Di Siena Spa
24 December 2004


Our ref: EDR 98/001; EDR 99/011

24 Dec, 2004



Company Announcements Office
The London Stock Exchange
London
EC2N 1HP



Dear Sirs

Reference Index Linked EDR issued by Banca Monte dei Paschi di Siena SpA:

   •Lit 150,000,000,000 due 2006, ISIN Code XS0085237203
   •Lit 200,000,000,000 due 2005, ISIN Code XS0105851710

We hereby give you notice that with effect from 20/12/2004 we will have
repurchased EDR's totalling more than 25%, 15% respectively of the original
amounts of the issues. All EDR's repurchased have been cancelled and following
this last repurchase the remaining amounts of the issues will be Eur 58,101,396,
Eur 87,495,546 respectively.

We trust that this information is satisfactory for your purposes and remain at
your disposal for any further information that you may require.

Yours sincerely,
For and on behalf of Banca Monte dei Paschi di Siena, London Branch

Mr Meb Khatri
Financial Controller





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